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S&P puts Oriental Trading on watch
Standard & Poor's said it placed its ratings on Oriental Trading Co. Inc. on CreditWatch with negative implications after the announcement that the company will be acquired by The Carlyle Group.
Affected ratings include the corporate credit rating at B+, senior secured bank loan at B+ and second-lien bank loan at B-.
Although terms of the transaction have not been disclosed, S&P said it believes that the transaction is likely to result in a weaker financial profile for Oriental Trading due to the potential for additional debt on the capital structure.
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